All Forum Posts by: Mike Wilson

Travis Sperr thanks for the feedback. I would look for an all cash deal here with partners with 5% ROI. Another BP member thought this may be more attractive to an out of state investor. Steve Moody property taxes are $7,300

I'm looking at a triplex in the trendy NW Portland alphabet district with great rents and sought after location.  Below are the key details.  I appreciate any advice on the deal. This would be my first investment property but I have experience in property management, contractor/vendor management, and contract negotiations.  I'm looking to build long term partnerships in the Portland area.

Property Details:

List price: $1,195,000

Closing: #3,500

Repairs: $5,000

Total: $1,203,500

Rents:

1 BR / 1 BA - $1450 rent

2 BR / 1 BA - $2500 rent

3 BR / 1 BA - $2700 rent

Cap Rate: ~5%

Monthly cash flow using 50% rule: $3,325

Notes:

Tenants on lease till Spring –

- Main level is currently vacant

- Off street parking (!)

- Legal triplex, basement could be ADU and can be converted back to full house if desired

I will be there, looking forward to it!

Thanks @Jay Hinrichs & @Randy Johnston for the feedback!  Unfortunately I can't make the meetup but will try for the next one.  Enjoy some beers on this gorgeous day. Until then I will continue learning from the great BP community and will keep an eye on the Beaverton/PDX market.

Cheers!

Thanks for the recommendations @Jay Raught!  The Notemba podcast looks very interesting, I just subscribed and will check it out along with the Scott Carson webinars.  A couple questions for you:

1. From what you have seen, what is the cost of entry for non-performing notes?  

2. Do you focus on a specific market (region, property type, value, etc.) for note investing?  This is probably too broad a question but just curious.  

With compound interest and the potential for re-fi payouts it looks like a powerful way to build a portfolio.

Hi BP Community.  I just joined and live in the Portland, Oregon area in Beaverton.  I have a 8-5 career job and my experience with real estate to date has been a short stint with a commercial real estate developer and helping a college teacher with his own flip.  I'm trying to learn as much about RE investin as possible while saving some capital.  I've listened to 5-6 DP podcasts which have been extremely insightful.  I'm now interested learning more about non-performing mortgage notes as a way to enter the market.  

The Beaverton market has been very hot lately, and I've seen 3-4 flips in my neighborhood alone over the past 6 months.  

I'm here to learn and hopefully meet some great people!

Mike